A price discriminating monopolist charges lower prices to customers with
A) lower supply elasticities.
B) higher supply elasticities.
C) lower willingness to pay.
D) higher willingness to pay.
C
Economics
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Over time, a country's real GDP per capita typically
A) shrinks B) grows. C) increases and decreases randomly. D) remains stable.
Economics
Assume a certain competitive price-taker firm is producing Q = 1,000 units of output. At Q = 1,000 . the firm's marginal cost equals $15 and its average total cost equals $11 . The firm sells its output for $12 per unit. To maximize its profit, the firm should
a. increase its output. b. continue to produce 1,000 units. c. decrease its output, but continue to produce. d. shut down.
Economics